Vale is ready for the new era of steel production, says Fabio Schvartsman

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The CEO of Vale opened the event organized by the Financial Times, FT Commodities Americas Summit 2018, on October 16th in Rio de Janeiro. Fabio Schvartsman highlighted the good moment of the company, reinforcing the appreciation of our high quality iron ore and our participation in the new world era of steel production.

The CEO spoke about the reform scenario in China, a country that is concerned about combating environmental pollution and, therefore, investing in ore with higher iron content.

"This moment coincides with the loss of capacity and quality of Australian mines, resulting in a price difference of almost $ 56 between low and high quality ore," he said, explaining that this benefits Vale, that has increased the share of high quality ore in its portfolio and invested in blending.

Vale's BRBF (Brazilian Blend Fines) is gradually becoming the world standard for iron ore, replacing the standard that until recently was the Australian.

Fabio Schvartsman, CEO of Vale

The potential for nickel production for electric car batteries was also on the agenda. "Vale is the largest nickel producer in the world. If the electric car revolution happens according to projections, we have the ability to supply high quality nickel to this market. "

The FT Commodities Americas Summit event brought together representatives from areas such as mining, energy and agriculture in a two-day event.